Cardano Daily Transaction Volume Up, But ADA Prices Remain Sluggish

Cardano is now positioning itself among the rapidly growing blockchain networks by 24-hour transaction volume, surpassing Ethereum and threatening to surpass Bitcoin. Along with this demand, however, is its soaring price. The total number of transactions on Cardano has increased at around 500%, skyrocketing from 5.5 million in March last year to around 32 million this month, according to Google’s Cardano Blockchain Insights. ADA, Cardano’s internal cryptocurrency, currently has a total market cap of $29.245 billion. It is listed on the No. 7 spot in CoinMarketCap’s rankings of the leading cryptocurrencies. ADA is currently trading at $0.871949, according to Coingecko’s chart. Cardano TVL up 25% The digital token’s price also rose by 30% within the past week and over 20% in the last month. DeFi Llama data show that Cardano now has around $3 million worth of digital assets locked in its TVL which is a 25% growth within the last 24 hours alone. Still, despite the potential exhibited by Cardano network, the digital currency is still far away from overcoming its all-time high of $3.09 which was its price in early September of last year. Moreover, the ADA coin has lost around 2% of its gains within the last 24 hours, with its trading price at $1.49, according to CryptoSlate. ADA total market cap at $29.245 billion in the daily chart | Source: TradingView.com Related Article | Survey Predicts Cardano (ADA) Hitti...